Belpointe Asset Management LLC Has $2.84 Million Position in Philip Morris International Inc. $PM

Belpointe Asset Management LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 16.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,514 shares of the company’s stock after selling 3,502 shares during the period. Belpointe Asset Management LLC’s holdings in Philip Morris International were worth $2,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PM. WCM Investment Management LLC raised its holdings in Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after buying an additional 11,230,626 shares during the last quarter. Vanguard Group Inc. increased its position in Philip Morris International by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after acquiring an additional 2,235,380 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Philip Morris International by 69.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,512,311 shares of the company’s stock valued at $821,826,000 after acquiring an additional 1,842,754 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Philip Morris International by 88.9% during the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after purchasing an additional 1,006,014 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Philip Morris International by 142.2% during the second quarter. Panagora Asset Management Inc. now owns 1,512,514 shares of the company’s stock worth $275,474,000 after purchasing an additional 888,148 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $179.23 on Wednesday. Philip Morris International Inc. has a one year low of $128.25 and a one year high of $186.69. The stock’s 50-day moving average is $160.14 and its 200 day moving average is $161.33. The firm has a market cap of $278.99 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.89 and a beta of 0.40.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.